Thought leadership

Interesting new research in this week’s newsletters reveals that well over half of customers have felt down by their banks’ lack of online services and support since lockdown at a time they needed them the most.

With high street banks only open for limited hours, the most common complaint since lockdown by a third of customers was not being able to get through online when needed, and 30% criticised their bank for failing to respond to their query in real time.

The report from Olive, which included both customers and banks, titled “The UK digital banking landscape during a pandemic” follows recent news on the temporary failings of the online banking systems of major banks, which left thousands of customers unable to access banking services and customer call centres during lockdown.

Olive found that customers’ frustrations with their bank’s digital services, were heightened further by fragmented online banking services and support channels with a quarter complaining of customer service channels not being joined up.

Nearly half said there was no way of contacting their bank online through live chat, virtual agent or social media and a combined third of customers were unable to reach their bank by phone or email for enquiries.

Martin Flick, CEO at Olive says “While some high street banks do provide excellent digital services, our research highlights the need for wider digitalisation of the industry. Despite banks investing significant sums in enhancing their digital banking systems since Covid-19, our report shows that consumers are still feeling immensely frustrated by the lack of choice, accessibility and at times, quality of online services.”

The issues and challenges thrown up by this research will be examined in detail at our upcoming Virtual Customer Engagement Transformation conference this autumn. Look forward to welcoming you there.

You may also like...

Keep Up To Date - Subscribe To Our Email Newsletter Today

Get the latest industry news direct to your inbox on all your devices.

We may use your information to send you details about goods and services which we feel may be of interest to you. We will process your data in accordance with our Privacy Policy as displayed on our parent website